The cost of raw materials used in the production of goods and services as measured by the Producer Price Inflation (PPI) fell by 1.9 percentage points to 11.1 percent in April 2021.
This is according to recent data released by the Ghana Statistical Service (GSS).
PPI recorded for March 2021, was 13 percent.
The month-on-month change in the PPI between March 2021 and April 2021 according to the GSS was -0.1 percent.
PPI for the three (3) major sub-sectors of industry – manufacturing, mining and quarrying, and utilities – recorded marginal increment on a year-on-year (YoY) basis, with the manufacturing sub-sector recording the highest YoY producer price inflation rate of 13.7 percent, followed by the mining and quarrying subsector with 11.9 percent.
The Utility sub-sector recorded the lowest YoY producer inflation rate of 0.2 percent.
On a month-on-month baisis, the manufacturing and utility sub-sectors recorded no monthly inflation rate, with the mining and quarrying sub-sectors recording the least inflation rate of -0.7 percent.
The trend in PPI from April last year reveals that, producer price inflation rate in April 2020 for all industry was 7.4 percent. The rate increased to record 9.5 percent in June 2020 but declined to 9.0 percent in August 2020.
The rate increased to 9.7 percent in September 2020 but declined consistently to record 7.0 percent in December 2020.
However, the PPI in January 2021, increased to 8.7 percent and then to 13.0 percent in March 2021, but then declined to record 11.1 percent in April 2021.
